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deficit. but it is much healthier for america's economy, much better for the real purchasing power of american consumers, much better for having businesses engage in the business of the future rather than the business of the past, for us to move more balanced trade by increasing exports rather than reducing imports. some of that has to do with the negotiation and enforcement of trade agreements. more of it has to do with choices that we make. especially choices that we make in sectors that one doesn't always think of. there is fast scope, increased tourism in to the united states. if you think about it, tourism is a sector that provides vast opportunities and jobs with those with relatively little skill. not so long ago i had the opportunity to spend some time talking to the ceo of a major hotel chain who noted that of his senior management team, have had not gone to college and many had started working behind the desk in a hotel. our tourism industry which we don't think of as an industry that develops when we are more competitive. similarly close to my heart given where i spent m
, when there was the realistic prospect that substantial deficit reduction would be associated with a substantial reduction in interest rates that would push the economy forward at a more rapid pace, and indeed in a very important part of the economic growth of the 1990s, can properly be attributed to the unlocking of economic energy that was achieved by the 1993 budget measures that led to a reduction in interest rates and increased investments, accelerating growth, lower capital costs, further improvement in the deficit and so forth. that approach of fiscal consolidation lead to substantial growth was a plausible and compelling vision for the country in 1993. it had been a plausible and compelling division for other countries at other times and places. you cannot fall very far. from the basement. with interest rates at 1.7% for ten years, with real interest rates at a level where if you want to put your money or store your money with the government for as much as 20 years, you have to pay them for the privilege of having them hold up your money if they are going to give you b
Search Results 0 to 1 of about 2